USDJPY is currently reversed from descending trend line by strong bearish candle. from last few month it is traded below that descending trend line.
descending triangle is in the process of formation. which is neutral it its own nature. mean it can break either side if we go through the triangle only. but i am expecting the price to come down to 105.50. by touching this it will form triple bottom. which is a sign of strong bullish movement.
and also macd showed divergence already. which give strength to bullish movement. but still i will look to confirm it via price action at 105.50 area. confirm it via bullish engulfing or bullish pin bar. then go long. keep in mind stop loss must be 15 pips below confirmation candle.
descending triangle is in the process of formation. which is neutral it its own nature. mean it can break either side if we go through the triangle only. but i am expecting the price to come down to 105.50. by touching this it will form triple bottom. which is a sign of strong bullish movement.
and also macd showed divergence already. which give strength to bullish movement. but still i will look to confirm it via price action at 105.50 area. confirm it via bullish engulfing or bullish pin bar. then go long. keep in mind stop loss must be 15 pips below confirmation candle.